LDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0912%/8h= −99.8% APRnext payment −$1.14 per $10,000 · paid last 24h −0.310%

Price spread now: Coinbase International against Kraken Futures+0.083%7-day average −0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$1061.064% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.602%−$60 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.083%, 7d avg −0.140%

Together, before fees−0.528%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.223% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.140%): +$22 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.602% in total) that is about 2.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.602% in total (about -31.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.14 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LDOUSD	0.4257	0.0496	pay 0.0062% / 1h	47m 02s	$1.1M	$683K	50x
Short	Coinbase International LDO-PERP-INTX	0.4261	−0.0416	pay 0.0052% / 1h	47m 02s	$119K	$41K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$191.44
Price spread: +0.083% → −0.140%: $22.29
Slippage, 4 orders: −$86.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$275.6
Costs to cover: 1.064%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Coinbase International: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 1 min ago	11.74 bp	39.5 bp −$40	97.3 bp −$973	doesn't fit	doesn't fit
Sell Coinbase International live order book, 11 min ago	15.23 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit

LDO on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International LDO-PERP-INTXshort	−0.0416%	1h	0.4261	+0.083%	$119K	$41K	50x
dYdX LDO-USD	0.0000%	1h	0.4260	+0.060%	$82K	$5K	5x	as long as short
Deribit LDO_USDC-PERPETUAL	0.0000%	1h	0.4255	−0.058%	$7K	$20K	25x	as long as short
Injective LDO/USDC PERP	+0.0033%	1h	0.4110	−3.463%	$4K	$13	12x	as long as short
Lighter LDO	+0.0096%	1h	0.4262	+0.109%	$866K	$265K	10x	as long as short
Paradex LDO-USD-PERP	+0.0100%	8h	0.4255	−0.053%	$3K	—	20x	as long as short
Hyperliquid LDO	+0.0100%	1h	0.4258	+0.022%	$11.6M	$3.2M	5x	as long as short
Aster LDOUSDT	+0.0100%	8h	0.4257	−0.018%	$167K	$116K	10x	as long as short
Pacifica LDO	+0.0100%	1h	0.4256	−0.028%	$109K	$53K	10x	as long as short
Binance LDOUSDT	+0.0100%	8h	0.4258	+0.008%	$17.9M	$31.1M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit LDOUSDT	+0.0100%	8h	0.4254	−0.081%	$16.0M	$10.0M	50x	as long as short
OKX LDO-USDT-SWAP	+0.0100%	8h	0.4252	−0.128%	$4.0M	$6.8M	50x	as long as short
Gate LDO_USDT	+0.0100%	8h	0.4256	−0.034%	$1.5M	$1.0M	50x	as long as short
MEXC LDO_USDT	+0.0100%	8h	0.4257	−0.011%	$7.6M	$6.4M	200x	as long as short
KuCoin LDOUSDTM	+0.0100%	8h	0.4255	−0.058%	$2.7M	$3.8M	50x	as long as short
Bitget LDOUSDT	+0.0100%	8h	0.4255	−0.058%	$3.3M	$3.2M	75x	as long as short
BingX LDO-USDT	+0.0100%	8h	0.4256	−0.034%	—	$9.9M	—	as long as short
Backpack LDO_USDC_PERP	+0.0100%	1h	0.4256	−0.039%	$90K	$178K	10x	as long as short
Variational Omni LDO	+0.0100%	8h	0.4260	+0.066%	$200K	$60K	—	as long as short
GRVT LDO_USDT_Perp	+0.0100%	8h	0.4256	−0.035%	$303K	$3.3M	10x	as long as short
ApeX Omni LDOUSDT	+0.0100%	1h	0.4260	+0.060%	$32K	$640K	50x	as long as short
Polymarket Perps LDO-USD	+0.0100%	1h	0.4262	+0.104%	$23K	$516K	5x	as long as short
SunX LDO-USDT	+0.0100%	8h	0.4360	+2.409%	$1K	$1.2M	20x	as long as short
BloFin LDO-USDT	+0.0100%	8h	0.4256	−0.034%	$914K	$251K	75x	as long as short
Extended LDO-USD	+0.0104%	1h	0.4250	−0.166%	$256K	$1.3M	25x	as long as short
Aevo LDO-PERP	+0.0104%	1h	0.4254	−0.081%	$38K	—	3x	as long as short
GMX LDO/USD [ETH-USDC]	L +0.0319% / S −0.0201%	1h	0.4256	−0.032%	$23K	—	100x	as long as short
Reya LDORUSDPERP	+0.0340%	1h	0.4256	−0.044%	$297K	—	15x	as long as short
Kraken Futures PF_LDOUSDlong	+0.0496%	1h	0.4257	long leg	$1.1M	$683K	50x